The Adani group is planning to invest Rs 30,000 crore in Kerala over next five years, a top official of the company said here Friday. The investments include Rs 5,500 crore on expanding the operations of Trivandrum International Airport and an additional Rs 20,000 crore investment in the Vizhinjam port. “The Adani group has already
Food delivery giant Swiggy on Friday announced a Rs 1,000 crore investment in its supply chain subsidiary, Scootsy, following board approval.This comes after a Rs1,600 crore infusion into Scootsy in December, underscoring Swiggy’s aggressive push into supply chain and logistics. In a stock exchange filing, Swiggy stated that the investment will be executed via a
The process to modernise Semi-Conductor Laboratory (SCL), country’s first chip fabrication unit, has finally started. The company has invited bids to improve the existing 180 nanometre (nm) fabrication line at an estimated cost of around Rs 2,000 crore, officials said.The augmentation and enhancement of the existing 8 inch fab, which uses 180 nm technology node
Srinandan Sundaram, executive director, home care at Hindustan Unilever’s (HUL’s) largest division, which contributes 37% to its overall revenue, talks about premiumisation, inflation concerns, local competition and retail innovations in an interview with Viveat Susan Pinto. Excerpts: Premiumisation has helped HUL’s home care division to tide over the urban slowdown in recent quarters. What are
Rebel Foods, the operator behind brands like Faasos, Oven Story, Behrouz Biryani, Wendy’s, and Smoor, has leveraged its cloud kitchen network to enter the quick commerce space in Mumbai—at a fraction of the cost compared to aggregator-led setups.“If I had to build this from scratch and cover Mumbai entirely, it would have taken at least
The government has identified five state-owned power generation and transmission companies for listing on the stock exchanges to enable them to meet the investment requirements for augmenting capacity. Andhra Pradesh Power Generation Corporation and Gujarat Energy Transmission Corporation are among the five companies that are in the process of appointing merchant bankers, power secretary Pankaj
India’s private sector output increased at the fastest pace in six months in February, fuelled by a quicker expansion in the services activity and a record job creation, according to a survey. At 60.6 in February, HSBC’s flash India Composite Purchasing Managers’ Index (PMI) – a seasonally-adjusted index that measures the month-on-month change in the
Telecom major Bharti Airtel on Friday announced it will increase its shareholding in Airtel Africa plc, a subsidiary company listed in UK, by acquisition of upto 5 per cent stake in one or more tranches during FY 2024-25. The acquisition, it added, will be done through Airtel Africa Mauritius Limited (AAML), a step-down subsidiary of
After acquiring Allianz’s 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance for Rs 24,180 crore, Bajaj Finserv is planning to explore listing of its insurance ventures. Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, said there was a regulatory nudge for listing of larger insurance companies. The boards of the
The Competition Commission of India (CCI) on Tuesday raided the offices of media agencies, including GroupM, Dentsu and IPG Mediabrands, as well as the Indian Broadcasting and Digital Foundation (IBDF), an apex body of broadcasters, over alleged fixing of ad rates and discounts, industry sources told FE. The action comes ahead of the 18th edition
After over a week of consolidation, Tuesday was a breakout day for the benchmark indices, which clocked around 1.5% growth on the back of good news on both global and domestic fronts. While the softer-than-expected US retail sales data fuelled hopes globally that the Federal Reserve could consider rate cuts, India’s lowest trade deficit in
By Ankit Mandholia The withdrawal of foreign portfolio investors (FPIs) from Indian markets is driven by a complex interplay of global economic trends, geopolitical uncertainties, monetary policies, and domestic factors. Since sustained outflows could pose challenges to market stability, it is important to ensure that there is macroeconomic stability to enhance the competitiveness of Indian
The market scenario can change completely in just a few months. Till September 2024, the Indian stock market was making new records every day. But since then, the situation has changed. Nifty 50 is down by about 14% from its peak. Similarly, the Nifty Midcap 100 has fallen by more than 18% in the last
